What commissions are an Executor or Administrator entitled to?
An Executor or Administrator of a decedent’s estate is entitled to a commission. The job of the Executor or Administrator is to gather all the assets of the decedent, pay the liabilities, and distribute the funds according to the decedent’s Last Will & Testament or according to the intestacy rules of New York. The executor […]
What is an Ancillary Probate or Ancillary Administration Proceeding?
When a person passes away with real property in multiple states, an ancillary proceeding may be necessary. The primary probate proceeding (if the person passed away with a Last Will & Testament) or primary administration proceeding (if the person passed away without a Last Will & Testament) is commenced in the State and County where […]
Joint Ownership of Real Property- Different Ways Real Property can be Titled
Title to real property can be held in three different ways; tenants by the entirety, tenants in common, and joint tenants with rights of survivorship. Tenants by the entirety- the property is owned by a married couple. The deed will usually state the parties as husband wife. For example the deed would say “John Doe […]
Key Parties to a Trust
This article will focus on some of the key parties to a trust. There are generally three parties to a trust; the grantor, trustee, and beneficiaries. The Grantor or Settlor is the person that creates the trust. This person will discuss with their attorney their wishes for the trust and the terms that will […]
Who has priority to act as Administrator of an Estate?
If a person dies without leaving a Last Will & Testament, that person is said to have died intestate. To learn more about who would inherit according to intestacy, read “What Happens if I Die without a Will?” When a person passes away without a will, a person needs to be appointed to marshal the […]